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View AmendmentCurrent Amendment: 940C007.BH.DG14.docx to Bill 940
Senator BRYANT proposed the following amendment (BH\940C007.BH.DG14):
Amend the bill, as and if amended, SECTION 1, Section 4-10-470, by adding an appropriately lettered subsection at the end to read:

/ ( )If the Education Capital Improvements Sales and Use Tax is imposed pursuant to subsection (B), then beginning with the property tax year in which the tax is first imposed, the applicable county auditor must grant each taxpayer a nonrefundable business personal property tax credit which, in the aggregate, equals the estimated annual revenue from the tax imposed pursuant to subsection (B), as evidenced by the estimated costs of the education capital improvements listed in the referendum. The amount of the credit must be granted on a pro-rata basis based on the amount the taxpayer otherwise owes for business personal property taxes imposed by the school district when compared to the total amount owed for business personal property taxes by the school district. After the granting of the business personal property tax credit, if any amounts remain, the county auditor must grant each taxpayer paying school debt millage a nonrefundable school debt tax credit, which in the aggregate, equals the remaining excess amount. The amount of the credit must be granted on a pro rata basis in the same manner as the business personal property tax credit. /